Barclays Capital Sets ConocoPhillips Price Target at $62.00 (COP)

By admin | 7 years ago

Equities researchers at Barclays Capital (NYSE: BCS) cut their target price on shares of ConocoPhillips (NYSE: COP) from $81.00 to $62.00 in a report issued on Monday. The firm currently has an “equal weight” rating on the stock.

Shares of ConocoPhillips opened at 52.90 on Monday. ConocoPhillips has a one year low of $52.13 and a one year high of $80.13. The company has a market cap of $66.895 billion and a P/E ratio of 5.82.

ConocoPhillips last issued its quarterly earnings data on Monday, April 23rd. The company reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by $0.04. On average, analysts predict that ConocoPhillips will post $1.49 earnings per share next quarter.

Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank (NYSE: DB) cut their price target on shares of ConocoPhillips to $60.00 in a research note to investors on Thursday, May 3rd. Separately, analysts at Jefferies Group (NYSE: JEF) cut their price target on shares of ConocoPhillips to $60.00 in a research note to investors on Thursday, May 3rd. Finally, analysts at JPMorgan Chase (NYSE: JPM) initiated coverage on shares of ConocoPhillips in a research note to investors on Wednesday, May 2nd. They set an “overweight” rating on the stock.

ConocoPhillips is an international integrated energy company. The Company’s segments include Exploration and Production (E&P), which primarily explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas and natural gas liquids on a worldwide basis; Midstream, which gathers, processes and markets natural gas produced by ConocoPhillips and others, and fractionates and markets natural gas liquids, predominantly in the United States and Trinidad; Refining and Marketing (R&M), which purchases, refines, markets and transports crude oil and petroleum products, mainly in the United States, Europe and Asia; Chemicals, which manufactures and markets petrochemicals and plastics on a worldwide basis, and Emerging Businesses, which represents its investment in new technologies or businesses outside the Company’s normal scope of operations.

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